Protection fund (safeguard fund)

In Germany, a special fund required by § 124 et seq. VAG (German Insurance Supervision Act) for life and health insurers, which must be funded by the insurance companies. The fund is designed to continue the policies of an insurer in distress. – See foreign bank deposits, deposit insurance, guarantee fund, firefighting fund, cross-guarantee system, International Association of Deposit Insurers, Icelandic bank trap, safeguard obligation. – See details in BaFin’s 2004 Annual Report, pp. 136 f., p. 155 (Protektor Lebensversicherungs-AG), BaFin’s 2009 Annual Report, p. 46 (harmonization efforts in the EU by CEIOPS).

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University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.
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